Guernsey Consults On Collective Investment Scheme Change
by Jason Gorringe, Lowtax.net, London
03 February, 2015
Guernsey has launched a consultation on amendments to its Collective Investment Scheme rules that would allow registered schemes to be offered to the public in Guernsey for the first time.
It is proposed that The Registered Collective Investment Scheme Rules 2008 will be repealed and replaced by The Registered Collective Investment Scheme Rules 2015. In the draft rules, the Commission has removed references to the prohibition on direct offering of registered schemes to the public in Guernsey.
Under the existing law, collective investment schemes may be either authorized or registered. However, only authorized schemes may be offered by the issuer directly to the public. Currently, registered collective investment schemes can only be offered to regulated entities in Guernsey or offered to the public by entities appropriately licensed in Guernsey.
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